Private Advisor Group Launches Entreda as Cybersecurity Risk-Mitigation and Compliance Solution
Entreda’s Industry-Leading Unify Platform to Monitor Brokerage and Advisory Operations While Providing Holistic Cyber Protection
SANTA CLARA, Calif. and ST. LOUIS, Mo., March 31, 2022 /PRNewswire/ — Entreda, an award-winning developer of integrated cybersecurity compliance software and solutions for the wealth management and insurance industries, today announced that St. Louis-based independent broker-dealer Vestech Securities, Inc., and its states-registered investment advisor Vestech Asset Management, which collectively oversee $211 million in client assets, have elected Entreda to provide their advisors and employees with network protection under Entreda’s industry-leading cyber platform, Unify.
Vestech Securities’ decision to turn to Entreda to monitor and remediate cybersecurity risks reflects how the industry-recognized vendor’s strong track record in protecting firms continues to reinforce Entreda’s reputation for best-in-class cyber risk management, backed by a deep knowledge of industry regulations. As a result of the agreement, Vestech will have access to Unify’s network vulnerability assessment and penetration testing, vendor due diligence and cybersecurity threat remediation solutions, in addition to the benefits of Entreda’s commitment to excellence in service.
Sid Yenamandra, CEO and founder of Entreda, a subsidiary of Smarsh company, said, “The rising threat of network breaches across industries have prompted wealth management firms to increase and enhance protection measures. Companies understand advisors cannot serve the best interests of their clients, or invest their money with confidence, without a platform that eliminates cyber risks or have in place a vendor risk assessment process. Entreda’s relentless focus on network security, the capability of its end-to-end platform to give a full report on the cybersecurity of any users who access company data, help wealth managers guard against system vulnerabilities.”
The Unify platform offers wealth management and insurance enterprise clients continuous network and endpoint monitoring for all network computers and other devices. The platform is comprised of Entreda’s proprietary Cyber Risk Number, a scoring system that evaluates users’ and organizations’ cybersecurity postures, and Entreda’s industry-leading auto-remediation. It also provides real-time network vulnerability scanning, cyber awareness and anti-phishing training, and cyber due-diligence of third-party vendors.
According to the 2021 T3 Inside Information Advisor Software Survey, Entreda is the market leader for cybersecurity resources, with a 14% share – over four times more share than its next closest competitor in the financial advisory space.
Vestech’s leadership team chose Entreda because they sought a company that understood FINRA regulations. FINRA lists Entreda among vendors in its directory.
John Huang, president of Vestech Securities, said, “As a firm dedicated to help growing the practices of independent financial advisors, Vestech understands the importance of protecting investment professionals, their valuable business, and their clients. Widespread vulnerability to cyberattacks looms large in the wealth management industry, and Entreda’s Unify platform provides the tools we need for continuous monitoring and adjustment, to detect issues at the earliest stages and address them quickly.”
Marco Ramirez, Vestech’s Chief Compliance Officer, stated, “When we set out to identify a vendor of cybersecurity services, we wanted a company that understood our culture of integrity and achieving industry best practices. Entreda’s highly regarded Unify platform, with its stellar ratings from other firms, was the most obvious choice. We are pleased to take cybersecurity to the next level on behalf of our independent advisors and the clients they serve.”
About Entreda, a wholly owned subsidiary of Smarsh
Entreda is the leading provider of comprehensive cybersecurity software, systems and training to the independent financial advice industry. Its Unify platform monitors endpoints on client networks, offers advanced network vulnerability scanning and automatically remediates vulnerabilities. Entreda’s proprietary Cyber Risk Number safeguards clients’ data and its Third-Party Risk Management program helps firms easily implement their own vendor risk assessment process. Entreda acquired cloud-based platform Privva in October 2021, further consolidating its position as a provider of vendor risk management services for wealth management. Entreda won the Wealth Management Industry Award for Top Cybersecurity vendor in 2019 and 2020 and was named in the 2021 T3 Inside Information Advisor Software Survey as the market leader for cybersecurity resources. For more information, visit www.entreda.com.
Entreda was acquired by Smarsh, the recognized global leader in electronic communications archiving solutions for regulated organizations, in May 2020. For more information, visit www.smarsh.com.
About Vestech Securities
Vestech Securities, Inc., headquartered in St. Louis, Missouri, offers full-service brokerage and corporate advisory services to businesses, registered representatives, investment advisors and their clients. Founded in 1996, Vestech includes affiliate Vestech Asset Management, a registered investment adviser with the State of Missouri, Illinois, Michigan, Connecticut, North Carolina, and Texas.
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